期刊-NBER美国国民经济研究局-fall1998_45页_3mb

MBER Reporter Summary - Fall 1998

Core Content

The NBER Reporter for Fall 1998 provides an overview of research conducted by the NBER Program on Public Economics over the past three years. It highlights key areas of study including Social Security, taxation, public education, privatization, fiscal rules, and government service. The report also outlines the structure and leadership of the NBER, as well as its online resources.

Main Research Topics

1. Social Security Reform

• The current U.S. Social Security system is a pay-as-you-go, defined-benefit system.
• Research explores the economic effects of transitioning to defined-contribution systems, including:
  • Efficiency and distributional impacts of individual accounts.
  • Funding of existing liabilities and time needed to reach a new steady state.
  • The impact of Social Security on retirement behavior and labor market outcomes.
• Studies also analyze international Social Security reforms in Chile, Australia, and other nations.
• Distributional effects of potential reforms are a key focus.

2. Taxation and Economic Behavior

• Research examines how taxation affects individual and firm behavior, including:
  • Work, saving, and investment decisions.
  • The effect of tax rates on taxable income and economic efficiency.
• Estate tax and its behavioral impact on investment returns are also studied.
• Corporate taxation has been analyzed for its effects on investment, financial policy, and multinational firms.
• Regulatory taxes, such as those imposed by the Federal Communication Commission, are evaluated for their efficiency costs.

3. Public Education and Fiscal Policy

• Funding and delivery mechanisms for public education are a focus, including:
  • School finance reforms and their impact on human capital investment.
  • Voucher programs and their effect on student achievement (e.g., the Milwaukee Parental Choice Program).
  • The role of intergovernmental aid and demographic structure in shaping public education spending.
• Property taxes and interjurisdictional competition are also discussed.

4. Environmental Taxation

• Research evaluates the efficiency and distributional consequences of environmental taxes.
• Topics include:
  • Compliance costs of air quality regulations.
  • The impact of carbon taxes on welfare and market distortions.
  • Discount rate choices in cost-benefit analysis for environmental policies.

5. Welfare Programs and the Earned Income Tax Credit (EITC)

• Studies focus on the effects of welfare programs on:
  • Family structure and marriage/fertility behavior.
  • Health outcomes for low-income families and children.
  • The role of the EITC in labor supply and income redistribution.

6. Privatization and Government Role

• Research investigates the factors driving privatization in the U.S. and other countries.
• Topics include:
  • The impact of privatization on public sector size and government functions.
  • Privatization in developing economies, such as Mexico and Chile.
  • Theoretical and empirical analysis of government scope and market efficiency.

7. Fiscal Rules and Budgeting

• Studies focus on the effectiveness of fiscal rules in controlling budget deficits.
• Topics include:
  • Balanced budget rules and their impact on public deficits in U.S. states.
  • The correlation between fiscal institutions and budget outcomes in Latin America.
  • The role of credit markets in disciplining sovereign borrowers.
• Research also addresses budget institutions in the context of the European Monetary Union.

Key Information

• The NBER is a private, nonprofit research organization founded in 1920.
• Leadership:
  • President and CEO: Martin Feldstein
  • Board of Directors includes prominent economists and financial experts.
• Online Resources:
  • A searchable index of over 5000 NBER Working Papers since 1978.
  • Access to NBER books, Research Associates, and Faculty Research Fellows.
  • The NBER Macroeconomic History Database with 3500 time series.
  • Penn World Tables and other datasets.
• Funding: The NBER relies on individuals, corporations, and private foundations.
• Subscription: Requests for subscriptions or changes should be sent to the NBER office in Cambridge, MA.

Major Research Papers (Selected)

• WP 5281: Feldstein – Would Privatizing Social Security Raise Economic Welfare?
• WP 5330: Kotlikoff – Privatization of Social Security: How It Works and Why It Matters
• WP 5642: Nechyba – Public School Finance in a General Equilibrium Tiebout World
• WP 5832: Gentry & Hubbard – Distributional Implications of Introducing a Broad-Based Consumption Tax
• WP 6097: Diamond & Gruber – Social Security and Retirement in the U.S.
• WP 6134: Gruber & Wise – Social Security Programs and Retirement Around the World
• WP 6333: Goolsbee – What Happens When You Tax the Rich?
• WP 6465: Bradford – Transition to and Tax Rate Flexibility in a Cash-Flow Type Tax
• WP 6546: Metcalf – A Distributional Analysis of an Environmental Tax Shift

Conclusion

This issue of the NBER Reporter underscores the breadth and depth of research conducted by the NBER Program on Public Economics. It covers critical policy areas such as Social Security reform, tax policy, public education, and privatization, while also examining the economic implications of these policies. The report emphasizes the importance of empirical and theoretical analysis in shaping effective public policy and highlights the role of the NBER in providing objective, quantitative insights into economic issues.